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Canada: ICP Solar Raises $5M, Goes Public

ICP Solar Technologies, Inc. announced the closing of a merger with FC Financial Services, Inc. (OTCBB: FCFN). The new company will operate under the name ICP Solar Technologies, Inc. and will execute its renewable energy business plan as its sole business. ICP Solar will retain senior management led by Founder, CEO and Chairman Sass M. Peress, and Arlene Ades, Executive VP – Business Development. Pursuant to the merger, ICP Solar completed a $5 Million private placement of common stock, with additional warrants having an exercise value of $5 Million, from a group of institutional and accredited investors. “The successful completion of the merger and our financing represents a significant step in positioning the Company for future growth,” said Mr. Sass M. Peress, Chairman & CEO. “Substantial investments from premier institutional investors in our private placement have given us access to both capital and strategic introductions that will significantly benefit the Company moving forward. The public listing provides the proper venue for attaining a higher level of corporate visibility and allows investors to better assess ICP Solar’s value in relation to its publicly traded peers.” ICP Solar designs and manufactures solar cells and solar cell based products and building materials. The […]

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100+ Members of Congress Urge EPA to Allow CA's Emissions Rule

Following the publication of research suggesting that Earth may be near its warmest average temperature in a million years, more than 100 lawmakers urged the Environmental Protection Agency to allow California to go ahead with new greenhouse gas limits on cars and trucks. The proposed emissions standards have sparked a court fight between the state and automakers, which have said the state is exceeding its regulatory authority by effectively imposing mileage standards on cars and trucks. But the letter sent Tuesday says EPA should approve California’s new rule because the Clean Air Act of 1970 allows the state to develop its own standards on auto emissions, so long as those standards aren’t less stringent than federal standards. Environmental groups such as the Sierra Club and Clean Air Watch also urged EPA to grant a waiver in a separate letter also sent Tuesday. The EPA has not indicated when it might make a decision about the waiver. California’s new standards start with the 2009 model year and are to be phased in over a period of eight years. The letter says the standards would cut “global warming pollution from new vehicles by almost 30 percent” by 2016. The California rules, though, […]

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Farmer Ownership Should Be Focus in Cellulosic Ethanol Industry

A report by the Institute for Local Self-Reliance urges the U.S. Department of Energy to change its piecemeal approach to commercializing ethanol from cellulose and develop a comprehensive strategy. “The future of American agriculture may depend on this,” says David Morris, Vice President of ILSR and author of “Putting the Pieces Together: Commercializing Cellulosic Ethanol.” Congress made clear its farmer and rural development focus in the Energy Policy Act (EPAct). It requires that projects “demonstrate outstanding potential for local and regional economic development.” In addition, EPAct requires that a priority be given to projects “that include agricultural producers or cooperatives of agricultural producers as equity partners in the ventures; and& have a strategic agreement in place to fairly reward feedstock suppliers.” The ILSR report proposes that DOE’s strategy take into account a key element of the Energy Policy Act: a mandate for 250 million gallons of cellulosic ethanol by 2013. ILSR argues that the various incentives contained in the Act — direct grants, loan guarantees and direct purchasing — will not significantly accelerate that time line. Therefore, ILSR has urged DOE to use the EPAct’s resources to achieve its qualitative goals: maximizing the benefits to the nation’s farmers and rural […]

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Wells Fargo Largest Corporate Purchase of Renewable Energy in U.S.

Wells Fargo & Company (NYSE: WFC) announced it will buy renewable energy certificates (RECs) to support generating 550 million kilowatt-hours of wind energy a year for three years. This makes the bank the largest corporate purchaser of renewable energy in the US according to the US Environmental Protection Agency. The purchase will offset 40 percent of Wells Fargo’s electricity consumption with 100 percent Green-e® certified wind energy. “Our commitment to this purchase is not just good for the environment, it’s good business,” said Don Dana, head of the company’s Corporate Properties Group, which has achieved energy savings of up to 20 percent at many Wells Fargo locations. “Energy conservation is one part of the equation. The second is supporting generation of cleaner, alternative sources of energy. Combined, these efforts will result in a healthier environment and a stronger economy.” Wells Fargo recently invested in a Texas-based wind farm and has provided $720 million in financing to develop Leadership in Energy Efficiency and Design(i) (LEED) certified buildings. The company implements energy efficiency measures in its existing and new buildings. For example, replacing cooling equipment at Wells Fargo Plaza in Phoenix with high-efficiency equipment reduced the building’s energy consumption by nearly 30 […]

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Silicon vs. CIGS

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